Corporate Risk Analyst

Corporate Risk Analyst Duration: 5 months (+ possible extensions) Pay Rate: $29.33/hr Location: Remote ( Greater Detroit area )

• Duties include:
  • RCSA Oversight
    • Develop and coordinate completion of LOB/Stakeholder Risk Control Self-Assessments by the LOBs/FLOD reps based on ERM framework, processes and standards.
    • Understand, perform validation, and effectively challenge RCSA assessment results, controls/processes and their effectiveness, and impact of top line risks and emerging risks impacting the LOB/Stakeholder.
    • Develop reporting of key measurements, metrics, and issues from the results of the RCSA.
    • Consult with Business Units on identified operational risk exposure(s), including recommendations for mitigating the exposure(s).
    • Manage and respond to Operational Risks Management internal audit and regulatory agency(ies) inquiries/requests. Drive required modifications to operational risk management or related policies, procedures and/or processes to proactively promote effective risk management in accordance with Enterprise Risk Management framework, policies/standards and requirements.
    • Assist in the development and monitoring of Business Unit Key Risk indicators (KRIs).
    • Perform operational risk management analyses and related reports/updates from both an aggregate and disaggregate (i.e. lines of business/stakeholders) to accurately and comprehensively derive and convey periodic risk profiles; and recommend required action(s) to mitigate risk.
  • Policies, Processes, and Procedures
    • Maintain sound knowledge of industry best practices, regulatory changes impacting the Bank and specifically LOBs/Stakeholders, to ensure accurate, timely and comprehensive information sharing, credible challenge risk due diligence exercises, and proactive risk management culture and practices across the enterprise.
    • Assess impact of new laws or changes to regulations on standards, policies, and/or procedures.
    • Provide risk management support to ensure current Operational Risk Management policies/processes in accordance with ERM framework; and Monitor and interpret policies, processes and procedures as necessary, in support of assigned Lines of Business (LOBs) and Stakeholders.
    • Analyze and make recommendations on department policies, processes and procedures.
    • Coordinate and recommend comprehensive approach and solutions to identified common risks across the enterprise and specifically for LOBs/Stakeholders.
    • Partners with the business unit(s) to ensure all, processes and procedures are in compliance with policies, standards and processes.
  • Committees and Special Projects
    • Management of and/or participation in medium to large sized projects related to risk and compliance.
    • Provide SLOD operational risk management review/due diligence relative to LOB/Stakeholders' projects, working groups and/or committees to ensure identification and effective/timely risk mitigation/remediation.
    • Represent and/or participate in risk management and compliance committee meetings (i.e. ORMC, etc.) as required.
  • Training and Reporting
    • Complete education/training courses, webinars, and/or conferences to ensure currency on operational risk management best practices, methodologies/reporting practices relative to the financial industry and Bank's LOBs/Stakeholders, and their products/service offerings.
    • Ensure currency, understanding and communication of operational risk management and relevant regulatory changes impacting the financial industry, and Comerica's LOBs/Stakeholders, as necessary.
    • Educate and train LOBs/Stakeholders on ERM framework, processes, top line and emerging risks impacting the Bank, our LOBs, customers and products/services, via Risk Liaison meetings and other venues, meetings or communiques.
    • Provide timely, complete and accurate risk management data/updates to Enterprise Risk Management team for enterprise-wide reporting; and participate in meetings to review Operational Risk Management data, as required.
    • Ensure compliance training requirements are properly communicated and completed.

• Bachelors' degree from an accredited university in business or related field
• 4 years of experience in operational risk management within the financial services industry
• 4 years of experience in executing risk management and compliance management
• 3 years of experience developing and implementing internal controls
• Must have Third Party Risk Management